Effect of Corporate Social Responsibility on Consumers’ Willingness to Pay - A Conceptual Review
Corporate social responsibility (CSR) has been one of the most polarising topics in management for a few decades now. There is extant literature on how companies have looked at their social responsibilities towards various stakeholders. Information among consumer’s about a company’s CSR has been seen to have varied effect on consumer attitudes towards the company brands and their purchase behaviour for such brands. However, there is uncertainty on how consumers behave with regards to their Willingness to Pay (WTP) for these brands of companies participating in CSR activities. The purpose of this study is to review the relevant literature on consumer’s WTP with regards to CSR. It will help to build conceptual framework in future research.